Jim Cramer Sees Tesla Rival Ford As 'Really Interesting' Amid EV Market Slowdown

Jim Cramer, the host of CNBC’s “Mad Money,” has expressed his optimism about Ford Motor Co. F amid the slowdown in the electric vehicle (EV) market.

What Happened: Cramer, during the CNBC Investing Club Homestretch, highlighted Ford’s strategic shift towards hybrid vehicle production. He described Ford’s recent moves as “really interesting” in the face of the EV market’s deceleration.

“Ford seems really interesting as the electric vehicle market slows down,” he said.

Despite the EV market’s slowdown, Ford has been making significant strides in the hybrid vehicle sector. This shift in focus was a notable feature of Ford’s fourth-quarter performance.

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Why It Matters: The EV market has been experiencing a slowdown, with even industry leader Tesla Inc. reporting a weak fourth quarter and warning of reduced vehicle volume growth for the year. This has created an opportunity for traditional automakers like Ford to capitalize on the hybrid vehicle segment.

Earlier in February, Ford’s CEO, Jim Farley, urged investors to shift their focus from Tesla to Ford’s “Pro” unit, which he believes is the future of the auto industry. Farley’s comments came amidst Ford’s strong performance in the hybrid vehicle sector.

Moreover, Ford also recently announced its decision to slash prices for its 2023 Mustang Mach-E in Canada amid increased competition from Tesla Inc‘s Model Y and other electric SUV options.

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